Crystal Clear Bookkeeping is here for you & ready to make 2019 a great year for your business! In case you are still unsure what to do about your bookkeeping needs this year, below is an article from Chron.com that discusses the benefits of using an outsourced bookkeeping contractor like Crystal Clear Bookkeeping. Call us today to review your needs 989-860-6233!
“Small-business owners who require bookkeeping services have two options. The standard solution involves hiring in-house staff to perform the work. Another option is hiring remote employees to work for your company. Outsourced bookkeepers can be beneficial, which sometimes makes this an attractive employment option for owners of smaller businesses.
How Outsourcing Works
When you have a task that you need help completing, the obvious solution is to hire an employee to work for you and perform the task. Running a business requires bookkeeping work, including accounts payable and accounts receivable, logging receipts and expenditures, and tracking profits and losses. When your business grows to the point where you require a bookkeeper to perform these tasks, an outsourced bookkeeper can work for you by telecommuting electronically. The process involves hiring an outsource company or advertising your employment needs online through websites that help connect businesses with contractors. After hiring a contractor to perform the bookkeeping work, you communicate electronically with the contractor and the person delivers your accounting documents and reports electronically according to the contract you devise.
Standard employees cost more to employ than outsourced contractors. According to the authors of “Small Business, Big Vision,” regular employees cost approximately one and a half times their hourly wage, whereas contractors do not involve extra expenses. Depending on your needs, you may contract with an outsourced bookkeeper for an hourly fee or a set rate that occurs weekly, biweekly or monthly. The period for a set rate may depend on your payroll system, the size of your business and the depth of your bookkeeping needs. Some bookkeeping contractors may charge a rate that depends on the monthly number of deposits or invoices, checks written, vendor invoices or the number of people you employ.
When you have contractors performing bookkeeping tasks electronically, this automatically reduces paper usage because the contractor delivers accounting reports and paperwork electronically. Although you may need to print out reports occasionally, in general, you should be able to access, review and edit documents electronically without converting them to hard copies.
When you outsource your bookkeeping staff, you have the benefit of using the contractors only as you need them, which can simplify the management of your employees. This can be particularly important for very small businesses or businesses just beginning to need help with accounting work, because you may not have enough bookkeeping work to keep a regular employee occupied in-office. Outsourced bookkeepers may have more-advanced accounting skills and may perform their work more diligently because they understand the competition within the outsourcing employment field and want to continue servicing any contract they have obtained. If the contracted bookkeeper does not perform to your requirements, you can terminate the contract much more easily than you can standard employees.”
Article Courtesy of Chron.com: